The 1992 Icelandic Cup was the 33rd edition of the National Football Cup.
It took place between 26 May 1992 and 23 August 1992, with the final played at Laugardalsvöllur in Reykjavik. The cup was important, as winners qualified for the UEFA Cup Winners' Cup (if a club won both the league and the cup, the defeated finalists would take their place in the Cup Winners' Cup).
The 10 clubs from the 1. Deild entered in the last 16, with clubs from lower tiers entering in the three preliminary rounds. Teams played one-legged matches. In case of a draw, a penalty shoot-out took place (there were no replays, unlike in previous years).
Valur Reykjavik won their eighth Icelandic Cup, and so qualified for Europe.
| Team 1 | Team 2 | Result |
|---|---|---|
| SM Húsavík | Völsungur Húsavík | 1-5 |
| HK Kopavogur | Stjarnan Gardabaer (D2) | 0-7 |
| Grótta Seltjarnarnes | þrottur Reykjavik (D2) | 6 -4 |
| ÍBK Keflavík (D2) | Armann Reykjavik | 10 - 0 |
| UMF Grindavík (D2) | Fylkir Reykjavik (D2) | 0 - 2 |
| KS Siglufjörður | Leiftur Olafsfjordur (D2) | 1 - 7 |
| Tindastoll Saudarkrokur (D3) | Magni Grenivík | 3-0 |
| Kormakur Reykjavik | Neisti H. | 3-0 |
| UMF Selfoss | UMF Njarðvík | 2-0 |
| BÍ Ísafjörður (D2) | Víðir Garður (D2) | 4-0 |
| Einherji | Valur Reyðarfjörður | 2-2 (Valur Reyðarfjörður win on penalties) |
| þrottur Norðfjörður (D3) | Höttur Egilsstaðir | 5-1 |
| Team 1 | Team 2 | Result |
|---|---|---|
| Valur Reyðarfjörður | þrottur Norðfjörður (D3) | 2 - 1 |
| ÍBK Keflavík (D2) | Grótta Seltjarnarnes | 5 - 0 |
| Völsungur Húsavík | Tindastoll Saudarkrokur (D3) | 4 - 3 |
| Fylkir Reykjavik (D2) | Stjarnan Gardabaer (D2) | 2-1 |
| UMF Selfoss | BÍ Ísafjörður (D2) | 2- 4 |
| Kormakur Reykjavik | Leiftur Olafsfjordur (D2) | 0 - 4 |
| Team 1 | Team 2 | Result |
|---|---|---|
| Breiðablik Kopavogur (D1) | Valur Reykjavik (D1) | 0 - 3 |
| KA Akureyri (D1) | þor Akureyri (D1) | 2 - 0 |
| BÍ Ísafjörður (D2) | Fram Reykjavik (D1) | 1 - 4 |
| ÍBK Keflavík (D2) | FH Hafnarfjörður (D1) | 1 - 2 |
| Völsungur Húsavík | KR Reykjavik (D1) | 1 - 2 |
| Leiftur Olafsfjordur (D2) | Fylkir Reykjavik (D2) | 2 - 5 |
| Vikingur Reykjavik (D1) | ÍBV Vestmannaeyjar (D1) | 3 - 2 |
| Valur Reyðarfjörður | ÍA Akranes (D1) | 0 - 7 |
| Team 1 | Team 2 | Result |
|---|---|---|
| Valur Reykjavik (D1) | FH Hafnarfjörður (D1) | 2 - 1 |
| ÍA Akranes (D1) | Vikingur Reykjavik (D1) | 3 - 2 |
| Fylkir Reykjavik (D2) | KR Reykjavik (D1) | 2 - 1 |
| KA Akureyri (D1) | Fram Reykjavik (D1) | 2 - 1 |
| Team 1 | Team 2 | Result |
|---|---|---|
| KA Akureyri (D1) | ÍA Akranes (D1) | 2 - 0 |
| Fylkir Reykjavik (D2) | Valur Reykjavik (D1) | 2 - 4 |
| Valur Reykjavik (D1) | 2–2 (a.e.t.) | KA Akureyri (D1) |
|---|---|---|
Baldur Bragason  64'Anthony Karl Gregory 90', 102', 118'Einar Pall Tomasson 113' |
http://www.ksi.is/mot/motalisti/leikskyrsla/?Leikur=192427 (Report) | Gunnar Mar Masson 30' Ormarr Orlygsson 34' |
